Tullett Prebon Information (TPI), a leading provider of independent real-time price information from the global OTC financial and commodity markets, has signed a partnership agreement with Murex, the leading provider of trading, risk, and processing solutions.
The deal allows Murex to use TPI’s data for internal model validation, while TPI gains exposure to a wider range of market participants. TPI will provide real-time, end-of-day and historic data sets including foreign exchange, rates, equities and commodities.
TPI’s data will assist in back-testing and calibrating Murex’s models, ensuring they are validated against reliable, real-world data. The historical data secures model stability and continuity of results from day-to-day. In addition, users of MX.3, Murex’s award-winning technology platform, may access a snapshot of TPI’s historic data for testing purposes.
In order to integrate TPI’s datasets, Murex has built a feed-handler to TPI’s FTP files, facilitating the smooth and easy transfer of data. TPI’s data will be available to Murex customers globally.
Antoine Mourad, head of product connectivity and technology partners at Murex comments: “Our clients rely on high-quality, accurate data across multiple asset classes for their trading and risk management activities. TPI is an established provider of OTC data. We knew it had the coverage and flexibility our clients needed. As we already share many mutual customers, it was a natural step for us to formalise a long-term collaboration.”
Frank Desmond, CEO at TPI, comments: “Murex is the leader in trading and risk with an impressive reach across the financial markets. This partnership is an important strategic move for us. It is a welcomed endorsement of the quality of our data and our ability to provide Murex, and its clients, with a consistent view.”